Correlation Analysis
BERKSHIRE HATHAWAY Class B vs Grayscale Bitcoin Trust ETF
BRK.B vs GBTC
+0.917
Very strong positive
When one moves up, the other tends to follow.
BERKSHIRE HATHAWAY Class B
↗BRK.B
Berkshire Hathaway is a holding company with a wide array of subsidiaries engaged in diverse activities. The firm's core business segment is insurance, run primarily through Geico, Berkshire Hathaway Reinsurance Group, and Berkshire Hathaway Primary Group. Berkshire has used the excess cash thrown off from its operations to acquire Burlington Northern Santa Fe (railroad), Berkshire Hathaway Energy (utilities and energy distributors), and the companies that make up its manufacturing, service, and retailing operations (which include Precision Castparts, Lubrizol, Clayton Homes, Marmon, and IMC/ISCAR). The conglomerate is unique in that it is run on a completely decentralized basis. Berkshire is expected to generate close to $375 billion in revenue in 2025.
Market cap 1T
Grayscale Bitcoin Trust ETF
GBTC
Time Series
Relative Performance
Who Moves First
BRK.B leads GBTC by 6 days
BRK.B tends to move before GBTC.
After testing 13 timing shifts, the strongest relationship was +0.919 (they moved in the same direction).
Do They Crash Together?
Correlation by Market Regime
How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.
Both Rising
+0.039
13 periods · Return correlation when both series rose
Both Falling
-0.294
5 periods · Return correlation when both series fell
Diverging
-0.626
17 periods · Return correlation when series moved apart
R-Squared
84.1%
Share of variance in one series explained by the other.
Trend Agreement
55.3%
How often both series moved in the same direction period-to-period.
Overlap Quality
1,066
Deep shared window — 1,066 usable pairs.
Significance
p < 0.001
95% CI: [0.907, 0.926]
Scatter
XY Regression
Pipeline
Data quality details
Pipeline
Data quality details
Pipeline Summary
1,066 paired data points survived the daily window.
Raw input
1,254
1,066
Normalized
1,254
1,066
Prepared
1,254
1,066
Aligned
1,066
1,066
Invalid removed
0
A: 0 / B: 0
Duplicates removed
0
A: 0 / B: 0
Alignment drops
188
A: 188 / B: 0
Series A
BERKSHIRE HATHAWAY Class B
BRK.B
Market cap 1T
Stock · 1,254 raw → 1,254 prepared
Series B
Grayscale Bitcoin Trust ETF
GBTC
Stock · 1,066 raw → 1,066 prepared
Sign agreement
100.0%
How often both values share the same sign.
Zero crossings
21
Estimated crossover points between normalized spreads.
Slope
0.3101
Linear regression slope.
Intercept
-78.6043
Linear regression intercept.
Related Extremes
Highest and Lowest Correlated
BRK.B
BERKSHIRE HATHAWAY Class B
Highest
+0.968
Republic Services Inc.
RSG · 1,254 data points
Lowest
-0.918
United Parcel Service, Inc. Class B
UPS · 1,254 data points
GBTC
Grayscale Bitcoin Trust ETF
Highest
+0.950
NetFlix Inc
NFLX · 1,066 data points
Lowest
+0.075
Johnson & Johnson
JNJ · 1,066 data points
Saved 7 hours ago · ID: stock-brk-b-vs-stock-gbtc-daily